China's Gold Market Development Strategy Under The New Conditions

The gold market of our country has been opened initiatively. Under the new condition, it is necessary to clarify further the final goal toward which the gold market of our country will develop. The goal is that: the gold market of our country should be built to be a characteristic far-eastern gold market. To achieve the goal, we should proceed step-by-step: the first phase is to open the domestic gold market; the second phase is to relate the gold market of Shanghai with the gold market of Hong Kong; the last phase is to internationalize the gold market of our country. Furthermore, in the process to achieve this goal, we should make it be the principle mission at present to develop many kinds of gold hedging trades gradually. Simultaneously, the economic entities should define their characters in the gold market.